Consumer Sentiment Significantly Higher Than a Year Ago Swiss Confederation 2024-12-09
Consumer sentiment in Switzerland has risen well ahead of the upcoming year. The latest Consumer Sentiment Index (CSI), released by the Swiss Confederation, reached -25 in December 2024, up from -32 last December. This is the highest level since June 2023.
The CSI is a monthly survey of 1,000 Swiss consumers that measure their confidence in the economy, their financial situation, and their spending plans. The index is scaled from -100 to 100, with a reading of 0 indicating that consumers are neither optimistic nor pessimistic.
The improvement in consumer sentiment is likely due to several factors, including:
- A strong labor market, with unemployment at a record low.
- Rising wages, which are outpacing inflation.
- A stable political environment.
The positive consumer sentiment is expected to continue in the new year, with the CSI forecast to reach 0 by the end of 2025. This would be the highest level since the end of 2019 and would suggest that consumers are confident in the economy and their financial prospects.
The strong consumer sentiment is good news for the Swiss economy. Consumers are the primary drivers of economic growth, and their spending is a major part of GDP. The positive consumer sentiment is expected to lead to increased spending, which will further boost economic growth.
The Swiss government is taking steps to support consumer confidence, including:
- Keeping interest rates low to encourage lending and spending.
- Investing in infrastructure to create jobs and improve the quality of life for citizens.
- Reducing taxes to put more money in consumers’ pockets.
The positive consumer sentiment is a positive sign for the Swiss economy. Consumers are confident in the future, and they are spending money. This is good news for businesses and the government, and it is expected to lead to continued economic growth in the year to come.
Consumer sentiment significantly higher than a year ago
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